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Mar 14, 2013
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the white house wants to pass a budget for next year and raise the debt ceiling but during an interview with abc he said the u.s. doesn't have an immediate debt crisis. >> have an immediate crisis in terms of debt. in fact for the next ten years it will be in a sustainable place. >> that is a startling different stance than we heard from the president during his 2008 campaign. >>> number 43 added $4 trillion by his loan some so we have over $9 trillion of debt that we are going to have to pay back. 30,000 dollars for every man, woman and child. that's irresponsible. it's unpatriotic. >> republicans kararen't takinge comments likely. they approved paul ryan's blue print plan that would balance a budget in a decade with $4.6 trillion worth of cuts. the house will consider it on the floor next week. republicans say the debt needs to be handled with more urgency. >> my view is, i think he and many like him, many democrats on capitol hill for that matter don't think of this as a debt crisis because things haven't imploded yet. it's not a question of if it's a question of when. >> on wednesda
the white house wants to pass a budget for next year and raise the debt ceiling but during an interview with abc he said the u.s. doesn't have an immediate debt crisis. >> have an immediate crisis in terms of debt. in fact for the next ten years it will be in a sustainable place. >> that is a startling different stance than we heard from the president during his 2008 campaign. >>> number 43 added $4 trillion by his loan some so we have over $9 trillion of debt that we are...
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Mar 20, 2013
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it was born back in 2011 when obama wanted to raise the debt ceiling. the amount that america can borrow to pay its bills. it's sort of like raising the credit limit on your visa to pay off your mastercard if you had used your mastercard to pay for two trillion-dollar wars. but -- listen, wait. [cheers and applause] they were worth it because now we can use all the free miles to go to the next war. [cheers and applause] but the republicans -- but the republicans would only raise the debt ceiling if the president promised later spending cuts. if those were not passed by an arbitrary date, it would trigger the sequester, a doomsday scenario designed to cripple programs that both sides love. the democrats would see damaging reductions in education, national parks, vaccination programs, food inspection, even the national zoo while republicans would see cuts to everything they hold dear like the military. [laughter] the point is -- [cheers and applause] -- if the two sides failed to come to a compromise in march 2013 would come in likeÑi a lion and go out l
it was born back in 2011 when obama wanted to raise the debt ceiling. the amount that america can borrow to pay its bills. it's sort of like raising the credit limit on your visa to pay off your mastercard if you had used your mastercard to pay for two trillion-dollar wars. but -- listen, wait. [cheers and applause] they were worth it because now we can use all the free miles to go to the next war. [cheers and applause] but the republicans -- but the republicans would only raise the debt...
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Mar 15, 2013
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it with was a solution which nobody thought would go into place as a way of raising the debt ceiling so we could take that risk off of the table. i think that one of the reasons why you are seeing the markets doing so well recently is because that tail risk has receded. it is important that congress raise the debt ceiling without drama when we reach that point again this summer. on the other hand, the president has tried as hard as he can to get congress to agree to a balanced approach to the fiscal problems and balanced approach that closes tax loopholes that smartly cut spending, and addressing the health care and entitlement problems, because that is the source of the deficit problems. i remember before christmas, we were negotiating with the congress, and speaker boehner tried plan b, and unfortunately, we could have addressed our problem problems at that point. >> right, rig. >> and now it looks like the se quester is going to be a slow grind on the economy. >> now back to the economic report which is weighty, but it is interesting nuggets for our viewers in here in particular a
it with was a solution which nobody thought would go into place as a way of raising the debt ceiling so we could take that risk off of the table. i think that one of the reasons why you are seeing the markets doing so well recently is because that tail risk has receded. it is important that congress raise the debt ceiling without drama when we reach that point again this summer. on the other hand, the president has tried as hard as he can to get congress to agree to a balanced approach to the...
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Mar 17, 2013
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obviously the president is refusing to negotiate again on the debt ceiling. >> if they did that, they came together and got some sort of grand bargain in the budget process, does that avoid deadlines like the debt ceiling? does it get wrapped into there and deal with sequestration? >> that would be the idea. resolve the issues for the past several years. so the president would not have to do with it in the next couple of years. debating aing now continuing resolution which funds the government, keep the government running, what is the difference between that and what russell was talking about? >> we have not had budgets. we of been running on the stopgap system of confrontations every six months between democrats and republicans over the so-called continuing resolutions which keep the government running. over the past two years we have seen this circus of arguments between the two sides over extracting additional spending cuts in exchange for continuing resolutions. the one interesting thing i saw from the congressman is a looks like maybe we will see an end to that, and maybe the hou
obviously the president is refusing to negotiate again on the debt ceiling. >> if they did that, they came together and got some sort of grand bargain in the budget process, does that avoid deadlines like the debt ceiling? does it get wrapped into there and deal with sequestration? >> that would be the idea. resolve the issues for the past several years. so the president would not have to do with it in the next couple of years. debating aing now continuing resolution which funds the...
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that or the debt ceiling deadline coming up in the spring. we don't know if we'll get a reprieve turned into a pardon. >> thank you, sir. >>> the governor of colorado today signed new laws that regulate the sales of guns. hours earlier somebody gunned down one of his state's top law enforcement officials. the man who heads the bureau of prisons, opens the door and he's shot dead. connection? the latest from both ends of this important story coming up. max and penny keptur bookstore exciting and would always come to my rescue. but as time passed, i started to notice max just wasn't himself. and i knew he'd feel better if he lost a little weight. so i switched to purina cat chow healthy weight formula. i just fed the recommended amount... and they both loved the taste. after a few months max's "special powers" returned... and i got my hero back. purina cat chow healthy weight. after a few months max's "special powers" returned... with an intuitive motion activated lid and seat,ad bold makes sure you'll never have to ask him again. >> shepard: t
that or the debt ceiling deadline coming up in the spring. we don't know if we'll get a reprieve turned into a pardon. >> thank you, sir. >>> the governor of colorado today signed new laws that regulate the sales of guns. hours earlier somebody gunned down one of his state's top law enforcement officials. the man who heads the bureau of prisons, opens the door and he's shot dead. connection? the latest from both ends of this important story coming up. max and penny keptur...
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Mar 18, 2013
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ceiling vote coming up soon. we have to stop the spending -- >> neil: you used to work there, and i always think there's a method to all madness, and i think that someone there, within the ranks of the party establish; must be saying, we can't agreg aggressively push this because maybe in and of itself, pushing the idea of immediately attacking the debt and we don't, immediately backfires on us. >> i'll go bark the words of the former chairman of the joint chiefs of staff mullen who said our debt is the most critical national security crisis of the country. that it is coming from the chairman of the joint chiefs of staff. i believe everybody else in washington, dc would get onboard. you would not think that something such as that financial matter would have something to do with national security but it does you. look at what its going on with the missile interceptors we're moving up into alaska, it's costing us now two to three times what should it have cost, and we'll hear to borrow money from china, in order to
ceiling vote coming up soon. we have to stop the spending -- >> neil: you used to work there, and i always think there's a method to all madness, and i think that someone there, within the ranks of the party establish; must be saying, we can't agreg aggressively push this because maybe in and of itself, pushing the idea of immediately attacking the debt and we don't, immediately backfires on us. >> i'll go bark the words of the former chairman of the joint chiefs of staff mullen who...
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Mar 21, 2013
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you talked about the debt ceiling, what did he say about that? >> i did. one of the next fights comeing up here, we could expect to hit the ceiling this summer in august. he says we're not going to agree to raise the debt ceiling without doing something about entitlements. mcconnell says this brings the president to the table so republicans want an equal number of cuts or more cuts than whatever amount they agreed to raise the debt ceiling by. mcconnell says it's got to come from entitlements because you can't do enough of what we've seen so far, discretionary spending. tracy: they want us off the beach in the summer. we'll have another debt ceiling fight, be here in august sweating it out again. >> yeah, can't wait. tracy: i know, me too. rich, take the vacation now, thanks. >> yeah. tracy: ha-ha, okay, you may want to sit for the next story. members of congress workedded together and passed a bill that will keep the government open for the next six months. who knows what happens in six months though. now the deadline was not tomorrow, and there were no f
you talked about the debt ceiling, what did he say about that? >> i did. one of the next fights comeing up here, we could expect to hit the ceiling this summer in august. he says we're not going to agree to raise the debt ceiling without doing something about entitlements. mcconnell says this brings the president to the table so republicans want an equal number of cuts or more cuts than whatever amount they agreed to raise the debt ceiling by. mcconnell says it's got to come from...
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Mar 17, 2013
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obviously the president is refusing of course to negotiate again on the debt ceiling. >> so if they came together and got some sort of grand bargain in the budget process, does that avoid deadlines like the debt ceiling? does it all get wrapped in there and does it deal with sequestration? >> that would be the idea to finally resolve these issues at least for the next several years that would include finding spending cuts. the president also wants revenue to replace the sequestration a as well as extend the debt limit for a period of time at least as the president wants it so he doesn't have to deal with it again at least in the next couple of years and perhaps the rest of his term. >> all right. heidi, the hearing now debating a continuing resolution which funds the government keeps the government running. what is the difference between that and what russell was just talking about? >> since we have not had budgets we've been running on this stop gap system assembly line here of confrontations every six months between democrats around republicans over these so-called continuing resolutio
obviously the president is refusing of course to negotiate again on the debt ceiling. >> so if they came together and got some sort of grand bargain in the budget process, does that avoid deadlines like the debt ceiling? does it all get wrapped in there and does it deal with sequestration? >> that would be the idea to finally resolve these issues at least for the next several years that would include finding spending cuts. the president also wants revenue to replace the...
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Mar 15, 2013
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and growing.on and the debt ceiling had been set a certain level. now they have uncapped it until may 16. the government can continue to burn as much debt as they need to finance the government through may, and that a couple more months, as they use a murder to measures at the treasury department, but we will close -- we will be close to $7 trillion by the end of the year. host: you can contact us here or send usc-span.org a tweet to twitter.com/cspanwj. the house has passed a budget resolution through the committee, no problem. then it will go to the senate floor, their budget resolution. both of these things will be happening next week. i think there will be more interest on the house side. the republican caucus in the house is a little less predictable, let's put it that way, than the senate democratic groups. if they can keep this budget resolution and get it through the house floor, then we can begin the process where the senate democrats and house republicans meet in conference and try to iron out the differences. that will be difficult but th
and growing.on and the debt ceiling had been set a certain level. now they have uncapped it until may 16. the government can continue to burn as much debt as they need to finance the government through may, and that a couple more months, as they use a murder to measures at the treasury department, but we will close -- we will be close to $7 trillion by the end of the year. host: you can contact us here or send usc-span.org a tweet to twitter.com/cspanwj. the house has passed a budget resolution...
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Mar 21, 2013
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ceiling debates, they are going to have to shut the government down. we still take in 2.7 trillion, will pay for medicare, social security, will pay off our debt, the full faith and credit of the united states, but isn't that the only way that ryan's budget gets done? >> no, no, not at all. ryan's budget, you know, we're going to have a series of sequential battles. what's going to happen is the democrats in the senate are going to ultimately pass some kind of a budget resolution. i doubt it's going to be like this one. republicans in the the house are going to pass the budget committee resolution and these set levels for all of the appropriations committee allowing for protection and that is to say you can have expedited consideration of appropriations bills that fall under that level. the republicans are going to pass bills that have spending lower than the democrats. the democrats are going to have bills, they're higher than the republicans and then we're going to fight it out bill by bill by bill by bill through the balance of the year and see a cl
ceiling debates, they are going to have to shut the government down. we still take in 2.7 trillion, will pay for medicare, social security, will pay off our debt, the full faith and credit of the united states, but isn't that the only way that ryan's budget gets done? >> no, no, not at all. ryan's budget, you know, we're going to have a series of sequential battles. what's going to happen is the democrats in the senate are going to ultimately pass some kind of a budget resolution. i doubt...
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Mar 16, 2013
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come may 18th, we could breach the debt ceiling again. give me your sense of how series these matters are and what's likely to happen. >> sure. i think congress will come to some sort of agreement next week before taking a two-week recess to keep funding the government. they will pass a continuing resolution this week. i don't think that will be a big issue. the question sort of moving forward is what's going to be the fight surrounding the debt ceiling. the republicans want to use that as an opportunity to make deeper cuts to entitlement programs. part of the president's outreach this week to republicans has been to remind them he's put on the table as part of a bigger deal about $400 billion to cuts in medicare and medicaid as well as about $130 billion in chain cpi, which would be, you know, a shift in the way we calculate some federal benefits. soy think that the contours of a deal will come if it does come at all around the debt ceiling fight and the months leading up to that. >> nancy, good to see you. thanks very much. nancy cook,
come may 18th, we could breach the debt ceiling again. give me your sense of how series these matters are and what's likely to happen. >> sure. i think congress will come to some sort of agreement next week before taking a two-week recess to keep funding the government. they will pass a continuing resolution this week. i don't think that will be a big issue. the question sort of moving forward is what's going to be the fight surrounding the debt ceiling. the republicans want to use that...
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Mar 17, 2013
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on may 18th, we're set to hit the debt ceiling. some say that could be the showdown. i want to bring in nancy, with the "new york times." andy, let's start with you. both sides put budgets out. everybody knows that neither of these budgets are going anywhere. what happens next? >> so, essentially, we're going to go through the same sort of continuing resolution process that you have seen over the last couple years. as you pointed out these budgets are political documents. they'll probably both pass their respective houses, but there's almost no way to bridge the gap between them and they're very vague documents. again, these are kind of political postures, then we're going to go through the slow process of getting money through the resolution. >> the budgetary process is not supposed to be a political process, necessarily. sure, it's the government priority, but it's a fairly technical process where everybody tries to come together and hammer it out. when people say things, and nancy, they did this a lot. everybody has been putting forth budgets and they're failing. t
on may 18th, we're set to hit the debt ceiling. some say that could be the showdown. i want to bring in nancy, with the "new york times." andy, let's start with you. both sides put budgets out. everybody knows that neither of these budgets are going anywhere. what happens next? >> so, essentially, we're going to go through the same sort of continuing resolution process that you have seen over the last couple years. as you pointed out these budgets are political documents....
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but i've got to have my debt ceiling now. less than two years later we've already increased the debt ceiling $2.1 trillion. we're right up there again having to raise the debt ceiling again. it will be a matter of weeks that this has got to be confronted again. well, what about the spending cuts? before the ink was dry on that agreement, signed by the president himself, i've got the document right here, in blue ink, barack obama right there. agree to cut $2.1 trillion in spending over ten years. this wasn't a big cut. we are at the -- spending were flat for ten years, we would have spent $37 trillion. as i recall, if under the baseline then in effect, we were expected to grow it to $49 trillion over ten years. $49 trillion. this would have reduced it to $47 trillion. so we reduced the growth of spending from $37 trillion to $47 trillion instead of $49 trillion. now you would have thought we were throwing the sink and the country into the ocean. but in january, six months later, he proposes a budget that wipes out 60% of that
but i've got to have my debt ceiling now. less than two years later we've already increased the debt ceiling $2.1 trillion. we're right up there again having to raise the debt ceiling again. it will be a matter of weeks that this has got to be confronted again. well, what about the spending cuts? before the ink was dry on that agreement, signed by the president himself, i've got the document right here, in blue ink, barack obama right there. agree to cut $2.1 trillion in spending over ten...
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. >> sean: what about when we hit the debt ceiling? because at that point the congress has the power of the purse. would you have the power at that point? >> so that's why we have a budget process, right? so our budget process, that our budget proposes to repeal that, patty murray i'm glad she's doing a budget and proposes a budget that raises taxes and never pass as budget, but the first time four years in the senate, that gives a pros cess where we can look at the spending in government and that's what the debt limit is about. by doing a budget process which we haven't done for four years, we can look at all government spending. right now with the continuing resolution, that just looks at a small slice of the pie, what we call discretionary spending which does not deal with the vast majority of obamacare spending. >> sean: all right. let me ask maybe the question another way. is there another way, assuming the senate and a radical agendaed president are never going to go along with repealing obamacare. is there a way that the house w
. >> sean: what about when we hit the debt ceiling? because at that point the congress has the power of the purse. would you have the power at that point? >> so that's why we have a budget process, right? so our budget process, that our budget proposes to repeal that, patty murray i'm glad she's doing a budget and proposes a budget that raises taxes and never pass as budget, but the first time four years in the senate, that gives a pros cess where we can look at the spending in...
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push comes to shove here, the continuing resolution or the debt ceiling, but at some point, it's either symbolic or they have to be willing to shut down the government. his answer to me was that the full faith and credit of the united states would be in jeopardy and my answer to him was, wait a minute, we take in 2.7 billion our obligations could be paid for seniors and the military and our debt service, who is right? >> you're right because boehner is repeating what obama says. the bottom line is this, the debt is the interest on the debt that is due. we bring in far more money than is required to pay the interest on the debt to cover social security and medicare, to cover the military and the vets. >> sean: all right. >> and what he's talking about and boehner is doing is paying for all the rest of the stuff. >> sean: by the way, you look good, great one. you lost some weight and you're working out and you look like you're ready to go in ufc boxing which you love so much. >> i love the ufc. god bless you. thank you, buddy, you're looking pretty good yourself in a manly kind of way. >>
push comes to shove here, the continuing resolution or the debt ceiling, but at some point, it's either symbolic or they have to be willing to shut down the government. his answer to me was that the full faith and credit of the united states would be in jeopardy and my answer to him was, wait a minute, we take in 2.7 billion our obligations could be paid for seniors and the military and our debt service, who is right? >> you're right because boehner is repeating what obama says. the...
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the administration wanted to clean increase in the debt ceiling. when we were facing a potential disaster because of reluctance on the part of congress to raise the debt ceiling. we saw a solution which we hope would not be put in place. no one expected it to be put in place. the idea was to have a commitment mechanism we wouldn't need to force us to make better policy decisions on the sequester. and in the negotiations, what i was referring to was the fiscal cliff negotiations at the end of last year, where the matters were very close. the president did not ask for more revenue in those negotiations. he actually asked for less. he had 1.6 trillion in his budget, came down to 1.2 trillion. i will point out charlie the president has done unusual he's kept his last offer on the table. he didn't retreat and say no i want to go back to that original figure. he kept some very difficult offers on the table to reach a bargain, including entitlement reforms. and so the president has been looking for a balanced way to do this. and in some sense it's the oth
the administration wanted to clean increase in the debt ceiling. when we were facing a potential disaster because of reluctance on the part of congress to raise the debt ceiling. we saw a solution which we hope would not be put in place. no one expected it to be put in place. the idea was to have a commitment mechanism we wouldn't need to force us to make better policy decisions on the sequester. and in the negotiations, what i was referring to was the fiscal cliff negotiations at the end of...
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maybe we get a debt ceiling fight down the road. washington still hanging on this economy to a great degree, it means the fed -- also nowhere near the unemployment target. there's nothing in the numbers to suggest the fed would be anything but completely dovish. >> sue? >> josh is going to join the conversation now. i think basically ben set it up for us perfectly. it does seem to be the u.s. fed versus the rest of the world. and once again mr. bernanke is presented with a crisis in another part of the world which may have to influence what he does here in the united states. >> that's exactly right. cyprus is going to play a big role in how he deals with europe. i think the fed wants to be curbs. if it's going to make any kind of move, it wants that move to be successful. that's going to be a guiding principle going forward. we have to remember there's a lot of forward looking events like that debt ceiling issue which is going to crop up in the middle of may. how we handle that will influence the economy going forward. we have to th
maybe we get a debt ceiling fight down the road. washington still hanging on this economy to a great degree, it means the fed -- also nowhere near the unemployment target. there's nothing in the numbers to suggest the fed would be anything but completely dovish. >> sue? >> josh is going to join the conversation now. i think basically ben set it up for us perfectly. it does seem to be the u.s. fed versus the rest of the world. and once again mr. bernanke is presented with a crisis in...
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Mar 13, 2013
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we get to debt ceiling during the summertime and republicans won't raise the death ceiling unless we have cuts and democrats will revolt at that. i don't think that will happen. i think they'll find some way to raise it for another year or so in a way that's not terribly damaging to the economy because while republicans don't want tax increases, they also know they got decimated the last time we had a debt ceiling crisis and didn't look good coming out of the fiscal cliff and they nevada look good coming out of budget fights. it's not worst case scenario to kick the can down the road. that's what we'll do. >> you can look at this and shake your head at where we have come to without this normal budget making process, whatever normal used to be. markets continue to be at multiyear highs. we're not necessarily getting any cuts that are significant enough to derail growth in the long-term but at the same time we're not getting reform to encourage people about the budget and a balanced budget longer term but the market doesn't really seem to care completely shaking it off. >> right. which
we get to debt ceiling during the summertime and republicans won't raise the death ceiling unless we have cuts and democrats will revolt at that. i don't think that will happen. i think they'll find some way to raise it for another year or so in a way that's not terribly damaging to the economy because while republicans don't want tax increases, they also know they got decimated the last time we had a debt ceiling crisis and didn't look good coming out of the fiscal cliff and they nevada look...
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they have about five months until july when the debt ceil comes up. if they don't do it by then they will never. >> he ignored paul ryan, chairman of the budget committee for four years and suddenly and magically he wants to meet with them. >> it is tough to get in your 600 and basketball. >> look if this president's attitude of let them eat cake, i go on my vacation, one presidential vacation, there are no cuts in his. just what can i do to hurt ordinary people? >> on doug's point once the approval of the president goes down it is hard to turn around, one way to turn it around is a comprehensive debt and spending deal that would revive the economy. >> what he is trying to do, if he doesn't get it because the problem for him now is people are saying, wait, this guy is playing us, and that will kill you as a president. >>gregg: conservatives hoping they have taken the first step to the white house with cpac holding a straw poll but will the winner be closer to 1600 pennsylvania avenue? our political insiders are here for that. [ kate ] many women may n
they have about five months until july when the debt ceil comes up. if they don't do it by then they will never. >> he ignored paul ryan, chairman of the budget committee for four years and suddenly and magically he wants to meet with them. >> it is tough to get in your 600 and basketball. >> look if this president's attitude of let them eat cake, i go on my vacation, one presidential vacation, there are no cuts in his. just what can i do to hurt ordinary people? >> on...
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Mar 16, 2013
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made this debt ceiling fight the quake child's play. rubin had to be creative as to where he was breaking a lot of buying time on the debt ceiling. there is brinksmanship all the time and the lesson to learn from not insist that it's really hard. the same issues that are tangential issues. the server to the heart and minds of americans over the country and issues lawmakers and for election on taxes and spending, government programs and so we can expect them to walk away from their principles and beliefs because they want to get a deal. a >> host: the bottom line is president clinton and house republicans stood before the balanced budget the last three or four years. >> host: into the bush administration. >> guest: that's right. and like i said, some of it had to do with the roaring economy. they definitely made changes to the welfare program and other spending programs in a way that eliminated the deficit, which was something in u.s. history was incredibly hard to do. >> host: jacob is very intelligent. the 12-year-olds don't speak that
made this debt ceiling fight the quake child's play. rubin had to be creative as to where he was breaking a lot of buying time on the debt ceiling. there is brinksmanship all the time and the lesson to learn from not insist that it's really hard. the same issues that are tangential issues. the server to the heart and minds of americans over the country and issues lawmakers and for election on taxes and spending, government programs and so we can expect them to walk away from their principles...
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ceiling. so, he's got to deal with both of those and he's trying now to cobble together a very he difficult coalition. s' never tried anything like this before in his presidency, to try to get republicans and democrats together to basically agree on what it's going to take to borrow 1.3 to 1.5 trillion dollars over the next 18 months or so. and that is consuming all of these time and all of his interest and talking about a hugely divisive issue like gun control in the middle of that would not be particularly helpful. >> megyn: i want to ask you on a different point, about senator ted cruz. he's been, boy, he got a lot of flak from the left and even some on the right for what we saw in that, in that senate exchange yesterday. i want to show the viewers now, can we pull up a sound bite and show them to give a flavor of what we saw between the junior senator from texas and the senior senator from california. >> the question i would pose to the senior senator from california would she deem it cons
ceiling. so, he's got to deal with both of those and he's trying now to cobble together a very he difficult coalition. s' never tried anything like this before in his presidency, to try to get republicans and democrats together to basically agree on what it's going to take to borrow 1.3 to 1.5 trillion dollars over the next 18 months or so. and that is consuming all of these time and all of his interest and talking about a hugely divisive issue like gun control in the middle of that would not...
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ceiling, and a lot of members of congress were reluctant to raise the debt ceiling since we were so irresponsible around this place, but an agreement was reached recognizing that could be disruptive to a significant degree, that we would raise the debt ceiling $2.1 trillion but we would reduce spending over ten years $2.1 trillion. well, we've already run up another $2.1 trillion in debt. we've already hit that. but they're proposing, and the president himself in his budget last january, six months -- less that six months after he signed the budget control act eliminating a little bit of the growth in spending, he's proposing to eliminate it, at least the sequester part of it, which is $1.2 trillion, 60%. so here are some other figures that are plain that the american people should know about this budget. it has a 60% spending increase over ten years, would increase spending 60%. it has $162 billion increase in spending next year, another stimulus bill. $7.3 trillion in new federal debt will be added under this budget over the next ten years. $1.5 trillion in tax increases. 80% incr
ceiling, and a lot of members of congress were reluctant to raise the debt ceiling since we were so irresponsible around this place, but an agreement was reached recognizing that could be disruptive to a significant degree, that we would raise the debt ceiling $2.1 trillion but we would reduce spending over ten years $2.1 trillion. well, we've already run up another $2.1 trillion in debt. we've already hit that. but they're proposing, and the president himself in his budget last january, six...
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Mar 13, 2013
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we know with his request to raise the debt ceiling again later this summer, we will be discussing again the possibility of finally solving our huge deficit and debt problem by making the kind of changes to the entitlement side that we now we have to make if we are going to save these programs and save our country. >> [inaudible] >> not since for a long time has the president failed to submit a proposed budget to the united states congress except for the current occupant in the white house who has missed that deadline four times out of five. if there is a better way to bring yourself irrelevant to the debate on the most important issue facing our country today, that might well be have taken the cake. the president's budget will not get here until after the house and the senate have passed their own budgets. if the president wants to be constructive and have to suggestions on how to put the budget in balance, he would send our budget that his budget in before the house and the senate passes their own budgets. that might be the reason we find ourselves $16.5 trillion in debt and on the cus
we know with his request to raise the debt ceiling again later this summer, we will be discussing again the possibility of finally solving our huge deficit and debt problem by making the kind of changes to the entitlement side that we now we have to make if we are going to save these programs and save our country. >> [inaudible] >> not since for a long time has the president failed to submit a proposed budget to the united states congress except for the current occupant in the white...
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Mar 14, 2013
03/13
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first, congress would cut spending by an amount greater than the rise in the debt ceiling. second, a super committee would be formed to negotiate the right type of tax reform and the right type of spending reduction. third, automatic spending cuts, now known as the sequester would take place -- this was proposed by the president and agreed to us by us in congress -- if the super committee failed. these automatic cuts to the budget was supposed to be so distasteful that it would motivate us all to find solutions to fix the budget crisis. but the super committee failed. now the sequester has kicked in. mr. speaker, 70% of americans want this deficit reduced. i imagine those numbers are probably higher in nebraska where i live where fiscal responsibility is the core characteristic of family life and business ethics as well as good government. people know economically, that you can't spend more than you have. citizens also want to see their government act in a reasonable fashion. mr. speaker, the federal budget deficit has been running more than $1 trillion in the last few year
first, congress would cut spending by an amount greater than the rise in the debt ceiling. second, a super committee would be formed to negotiate the right type of tax reform and the right type of spending reduction. third, automatic spending cuts, now known as the sequester would take place -- this was proposed by the president and agreed to us by us in congress -- if the super committee failed. these automatic cuts to the budget was supposed to be so distasteful that it would motivate us all...
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Mar 21, 2013
03/13
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we were down two years ago when we had spain one and the first debt ceiling, we were down 10%. this week we're barely down at all, maybe a percent. every time we get through one of these and we will get through this, more and more investors become convinced that the category 10 earthquake has already happened. and long-dated assets like equities should be worth what we think they are worth based on long-term fair value assessments. we think the s&p should be trading 17, 18 times. >> let me get more personal, then, steve. are you a buyer, as we see any kind of cyprus-inspired dips like today, like recently, would you be a buyer? >> absolutely. we're recommending people be overweight eck witdquityequitie. that's what we would be doing here, mandy. i think jack's going to be waiting a long time. europe's going to have a series of these aftershocks, but it's part of the healing process. i think they will get through this cyprus thing. i think most european aren't even sure if cyprus is part of the eu. it's got this russian interest which makes it very unique. it's very different th
we were down two years ago when we had spain one and the first debt ceiling, we were down 10%. this week we're barely down at all, maybe a percent. every time we get through one of these and we will get through this, more and more investors become convinced that the category 10 earthquake has already happened. and long-dated assets like equities should be worth what we think they are worth based on long-term fair value assessments. we think the s&p should be trading 17, 18 times. >>...
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Mar 19, 2013
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does the sequester continue, do we have crazy -- another complication over the debt ceiling. at this point, it is dysfunct n dysfunctional politics getting in the way of an economy gradually getting its act together. >> does the economy in terms of federal finances need what's been characterized as a grand bargain? do you think it's possible? i was listening to a political analyst who said if a grand bargain means somebody has to -- each side has to sign on to raising tacks and cutting entitlement, he knew of no politician who would buy that bargain. >> i don't think it's likely, but i wouldn't put it this way. i would say the division between the parties is too large. that we've -- we as republicans basically have not acknowledged the election. that's the problem. it is not urgent. the congressional budget office debt projections show pretty much stable u.s. indetectivedness for the next ten years. they do not show anything that looks like a crisis. we have long, long run problems but not anything that has to be dealt with this year or five years from now or seven years from
does the sequester continue, do we have crazy -- another complication over the debt ceiling. at this point, it is dysfunct n dysfunctional politics getting in the way of an economy gradually getting its act together. >> does the economy in terms of federal finances need what's been characterized as a grand bargain? do you think it's possible? i was listening to a political analyst who said if a grand bargain means somebody has to -- each side has to sign on to raising tacks and cutting...
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Mar 18, 2013
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the next speaker has been an outspoken advocate to not raise the debt ceiling so our children do not inherit a debt-ridden future. the next speaker has been outspoken for the unilateral repeal for obamacare. [applause] more so than anything else, our next speaker is one of the most courageous conservatives in the country. she stands for principle, she will oppose a republican just like she will oppose a democrat. she's fighting if the future of the country so my generation can prosper. ladies and gentlemen please join me in welcoming congresswoman michelle bachman. [applause] >> good morning. good to see you. good morning. love you too! good morning. welcome, everyone. thank you for that wonderful cpac early morning welcome. welcome to washington, d.c. the epicenter of care and compassion. it is a very unique city as you know. you have to show a photo i.d. in other words to have a white house tour then they turn around and demand you put away your i.d. before you vote for the man sitting in the white house. it is a city of care and compassion. i want to ask you an important question
the next speaker has been an outspoken advocate to not raise the debt ceiling so our children do not inherit a debt-ridden future. the next speaker has been outspoken for the unilateral repeal for obamacare. [applause] more so than anything else, our next speaker is one of the most courageous conservatives in the country. she stands for principle, she will oppose a republican just like she will oppose a democrat. she's fighting if the future of the country so my generation can prosper. ladies...
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Mar 21, 2013
03/13
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we increased the debt ceiling. people do not understand what that is. it is foreiling says money you have already spent. if you owe money, you cannot pay the bills. you have to pay the bills. otherwise the country defaults. the treasury people tell us that would be catastrophic. so you have to pay the bills. we have raised the debt ceiling 77 signs -- times since world war ii. there is political demagoguery from whatever clinical party was in go the minority. at the end, there was a vote for it. they say if you increase the debt ceiling coming up to cut spending by an incredible amount. over 10 years. white 10 years? arbitrary. -- why over 10 years? arbitrary. 2.4 congress voted for $ trillion in cuts. 2 trillion -- the sequester makes no sense at all. from our point of view, we do not have a that crisis or deficit crisis. we have a jobs crisis. we have reduced the deficit. the only intelligent way to measure deficit is as a percent of the economy. . percent of gdp that is for a simple reason. if you owe $10,000 on your credit card, is that urban some o
we increased the debt ceiling. people do not understand what that is. it is foreiling says money you have already spent. if you owe money, you cannot pay the bills. you have to pay the bills. otherwise the country defaults. the treasury people tell us that would be catastrophic. so you have to pay the bills. we have raised the debt ceiling 77 signs -- times since world war ii. there is political demagoguery from whatever clinical party was in go the minority. at the end, there was a vote for...
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ceiling crises these are all manufactured these are not out of our control they're not out of congress's control they manufacture the perception of a crisis to put. through or at least try to push through extreme measures that they know polling tells them they can't pass unless there is a sense of panic and i'll give you a couple of examples here i mean the biggest example of that is social security cuts social security has essentially nothing to do with our long term debt challenges but if you claim and you raise the perception that there's an imminent budget crisis and imminent budget emergency it logically will become more easy to pass social security cuts even though they have nothing to do with the debt even though the public polls of the public oppose those but it will be easier to pass them if you create the perception of a crisis and so every single time going forward that the republicans say that they were facing an imminent crisis and that justifies all sorts of policies that the public opposes americans should remember this weekend in which the republicans made it that they're
ceiling crises these are all manufactured these are not out of our control they're not out of congress's control they manufacture the perception of a crisis to put. through or at least try to push through extreme measures that they know polling tells them they can't pass unless there is a sense of panic and i'll give you a couple of examples here i mean the biggest example of that is social security cuts social security has essentially nothing to do with our long term debt challenges but if you...
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maximum debt ceiling going to be blown up or lifted so that countries like greece and spain and cyprus can can run a larger debts or is are we going to see countries just flee the euro go back to their is a lawyer and says at this point there's still the hope in europe that the countries that have by the way been ignoring these rules france and germany as well as the countries in difficult circumstances have been ignoring all sorts of the rules they all agreed on so there's plenty of precedent for not in fact abiding by the rules and there's relatively little enforcement that has been tried or that is even allowed under the rules of the e.u. so my guess is they're not yet convinced despite the blowback that the cypriot people were able to to demonstrate they're not yet persuaded that the mass of the populations of italy of spain and eventually of france and germany too will mount that kind of opposition only when they see that will you get the fundamental change that will shift out of austerity and to build economic development by breaking a lot of all the rules of typical capitalism t
maximum debt ceiling going to be blown up or lifted so that countries like greece and spain and cyprus can can run a larger debts or is are we going to see countries just flee the euro go back to their is a lawyer and says at this point there's still the hope in europe that the countries that have by the way been ignoring these rules france and germany as well as the countries in difficult circumstances have been ignoring all sorts of the rules they all agreed on so there's plenty of precedent...
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the social programs in exchange for cooperation on tax reform during the debt ceiling debacle of two thousand and eleven for example he famously suggested raising the age at which seniors start receiving medicare benefits like bill clinton before him obama seems to have an obsession with compromise even when it screws the middle class clinton if you remember worked with newt gingrich in the republican house to pass the one nine hundred ninety six welfare reform bill a bill has made life miserable for the long term unemployed of the great recession because of social security net that obama now equal apparently says he supports will be equally as damaging what's even scarier is the president's flippant attitude toward programs millions of americans depend on just to get by in february said he didn't want to raise the medicare eligibility age but the question remains how much can we progress is trust someone who regularly plays politics with essential benefits and who is he actually fighting for we talked on the show before about obama's connections to pete peterson the wall street bill
the social programs in exchange for cooperation on tax reform during the debt ceiling debacle of two thousand and eleven for example he famously suggested raising the age at which seniors start receiving medicare benefits like bill clinton before him obama seems to have an obsession with compromise even when it screws the middle class clinton if you remember worked with newt gingrich in the republican house to pass the one nine hundred ninety six welfare reform bill a bill has made life...
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Mar 17, 2013
03/13
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then what is agreed to infil law that came at the end of that dreadful process of holding the debt ceiling hostage. so unilaterally declared that to the floor for cuts and not a ceiling and now it is a way of avoiding the sequestration of the defense budget to the remarkable set of additional cutbacks and means tested programs of one sort or another. i even solve the most analytic reporters that david rogers of politico showed in the course of writing about that. and of course we had yesterday a successful republican filibuster on the senate democratic plan extending the law were student loan rate in financing it in a particular way. i know in "the new york times" this is the 21st successful republican filibuster in this congress. most of it is not if you will consequential and the filibuster was in the first two years because there was a republican house and democratic wishes from the white house and the senate are not likely to be realized but the fact is that it has been so commonplace and it's taken for granted in most press reports the word filibuster never is elevated to the story it
then what is agreed to infil law that came at the end of that dreadful process of holding the debt ceiling hostage. so unilaterally declared that to the floor for cuts and not a ceiling and now it is a way of avoiding the sequestration of the defense budget to the remarkable set of additional cutbacks and means tested programs of one sort or another. i even solve the most analytic reporters that david rogers of politico showed in the course of writing about that. and of course we had yesterday...
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Mar 21, 2013
03/13
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the debt ceiling. if we do that, if we put a balanced budget amendment on the floor of the house and senate and if it passes i'll be ready to look at increasing the debt ceiling for the president. if that doesn't happen, i don't see a reason to raise the debt ceiling. let's stare him down on that until somebody gives in. we need to get this spending under control. and the irresponsible policies is not the way to go. obamacare needs to be repealed. we need to restore the rule of law in this country. we got to shrink down the welfare package that's out here. 80 different means tested welfare programs in the united states, just $2.5 trillion for the illegal component of this. a whole lot more if we don't get these entitlements under control. mr. speaker, the solutions are here. they are on this side of the aisle. they're actually in the platform. i endorse many of them. i appreciate your attention and i yield back the balance of my ime. the speaker pro tempore: the gentleman yields back his time. does the
the debt ceiling. if we do that, if we put a balanced budget amendment on the floor of the house and senate and if it passes i'll be ready to look at increasing the debt ceiling for the president. if that doesn't happen, i don't see a reason to raise the debt ceiling. let's stare him down on that until somebody gives in. we need to get this spending under control. and the irresponsible policies is not the way to go. obamacare needs to be repealed. we need to restore the rule of law in this...
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Mar 19, 2013
03/13
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and not razor debt ceiling's our children cannot inherit a debt ridden future. the next speaker has been an outspoken advocate for the unilateral repeal of obamacare. >> and more so than anything else, our next speaker is one of the most courageous conservatives in the country your she stands for principle, she will oppose republican just like she will oppose a democrat. she's fighting for the future of this country, so my generation can prosper. ladies and gentlemen police join me in welcoming congresswoman michele bachmann. [cheers and applause] ♪ ♪ >> good morning. good to see you. so glad you're here. good morning. love you, too. good morning. welcome, everyone. thank you for that wonderful, wonderful tea bag or the morning welcome. and you are up and you. welcome to washington, d.c. the epicenter of care and compassion. it is a very unique city, as you know. you have to show a photo id in would have a white house tour. and then they turn around and demand you put away your id before you vote for the man sitting in the white house. it's a city of care an
and not razor debt ceiling's our children cannot inherit a debt ridden future. the next speaker has been an outspoken advocate for the unilateral repeal of obamacare. >> and more so than anything else, our next speaker is one of the most courageous conservatives in the country your she stands for principle, she will oppose republican just like she will oppose a democrat. she's fighting for the future of this country, so my generation can prosper. ladies and gentlemen police join me in...
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Mar 15, 2013
03/13
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the resolution to this debt ceiling debacle led to the first downgrading of american credit in the history of this country. we have a president who refuses to put a single plan on paper that addresses the deficit spending, entitlement reform, those are inexplicable. he is willing to do a photo op with he's more than willing to do a theo op to talk about 1% of total annual budget. if the president is word about overtime pay for capital janitors, i say what about the stagnant wages of millions of american workers? what? americans resigned to food stamps? what about small businesses and homeowners that cannot get loans because of dodd-frank? what about more than 20 million americans who cannot get full- time work due to the most anemic recovery since the great depression? mr. president, your plan to tax and spend our nation to l asperity will fai spectacularly as the economics you have borrowed from john maynard keynes. thes be clear about what is crux of the debate in washington. americans will surrender to the creation of a massive welfare states in the image of western europe. thequarrel i
the resolution to this debt ceiling debacle led to the first downgrading of american credit in the history of this country. we have a president who refuses to put a single plan on paper that addresses the deficit spending, entitlement reform, those are inexplicable. he is willing to do a photo op with he's more than willing to do a theo op to talk about 1% of total annual budget. if the president is word about overtime pay for capital janitors, i say what about the stagnant wages of millions of...
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Mar 21, 2013
03/13
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obviously, corporate profits are up, but when you take into account our debt ceiling issues and then our -- obviously, o national debt and deficits -- neil: are they whistling past the graveyard? >> we'll have an adjustment. i hope not. i hope we continue to build incomes up, keep the corporate profits up, but unless we reform the tax code, unless we reform, obviously, the entitlement programs, unless we get debt and deficit and fiscal issues under control, we're in trouble. neil: senator, i thought you were swimming upstream in massachusetts. amazing, ted kennedy's seat, shocking, actually. maybe you set sights on a national stage where your argument resinates more among folks in the country. are you interested in that? >> i think you need people like me and others. you have rubio, portman, thune, good republicans, a lot of good democrats who bring a common sense approach to who we are -- neil: i know that, but would you specifically, scott brown? >> i'm not ruling anything out, but now i'm happy and honored to be a fox contributor. i'll recharge engines and bring my message to the
obviously, corporate profits are up, but when you take into account our debt ceiling issues and then our -- obviously, o national debt and deficits -- neil: are they whistling past the graveyard? >> we'll have an adjustment. i hope not. i hope we continue to build incomes up, keep the corporate profits up, but unless we reform the tax code, unless we reform, obviously, the entitlement programs, unless we get debt and deficit and fiscal issues under control, we're in trouble. neil:...